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05/02/2016

Speedy new application process for £1,000 to £5,000 micro loans from Finance Wales

Finance Wales has launched a new, streamlined two-day application process for micro loans of between £1,000 and £5,000.

Eligible Welsh small and medium-sized businesses (SMEs) that have been trading for over 2 years can now take advantage of the process to apply for loans of between £1,000 and £5,000 from the Welsh Government’s Wales Micro-business Loan Fund.

Gwynedd-based luxury paper goods designer, Caryl Halstead and Cardiff’s Marigold Costumes are the first businesses to benefit from the speedy new application process.

Finance Wales’ Micro Loan Fund Manager, Nicola Edwards hopes the new scheme will enable more small businesses in Wales to access the finance they need to grow and increase their impact on the Welsh economy: “Accessing the right financial support can have a positive impact on small businesses and we’re keen to encourage more of them to take advantage of the micro loans on offer from Finance Wales. 

Our customers and their advisers told us that they’d like a quick, easy application process, so we’ve come up with a shorter process with a quicker turnaround and there’s also less paperwork to fill in.  We hope our new streamlined application process will encourage more businesses to be ambitious and get their plans underway or help them to take advantage of new business opportunities.”